Chinwendu Obienyi

Nigeria will become a major player in the global economy only if it thrives on accountability and transparency in its business environment, analysts have said.

According to the former Chairman, Nestle Nigeria Plc, Chief Olusegun Osunkeye, and other analysts, Nigeria needs to step up and join the league of countries   which take ethical standards in business seriously.

Speaking on the theme: The Effects of Business and Professional Ethics on the Economic Growth in Nigeria during the 2018 Symposium on Ethics in Business and Professions organized by Rotary Club District 9110, Nigeria in Lagos yesterday.

Corroborating him, the Managing Director, MD Network Geomatics Limited,  Olusola Atilola, said it was imperative for the government to enforce the code of ethics works as professional ethics is gradually slipping away.

Related News

“If we do our business in a professional ethical way, there is no way the economy won’t record growth. The Government really needs to enforce the code of ethics because professional ethics is gradually slipping away and that is why accountability and transparency remain the panacea to economic growth”, he said.

The Lagos State Commissioner for Establishment, Training and Pension,  Benson Oke, who was represented by Tara Ibirogba, hinted that firms, business and individuals have been evading tax, hence the lack of new infrastructure in the country.

On his part, the Group Managing Director of Prima Garnet Africa, Lolu Akinwunmi, who was represented by Lampe Omoyele, said, “Business Ethics isn’t a legal issue in black or white but of the moral mind and once core values are established, it tends to help an individual as a professional and a businessman because when people steal funds meant for driving the growth of a nation, it hinders the development and prosperity of such nation.”

Head, Department of Employment Relation and Human Resources Management, University of Lagos, Dr Akeem Akinwale advised companies to engage the services of corporate ethics officers, ethic consultants in order to ensure accountability and transparency stands out in business dealings.

“Corporate bodies should employ corporate ethics officers and ethic consultants so as to drive ethical standards and values as these cannot be ignored. If they can start to adopt this, it will be a step in the right direction in driving Nigeria to becoming a major player in the global economy”, he advised.